Skip to main content

Hotel-Motel

Studio 6 Sparks Tahoe Reno Industrial Center

795 USA Pkwy, Sparks, NV 89434

Listing Price: $12,750,000

Cap Rate
9.50%
Number of Rooms
91
RevPAR
$73
Gross SF
44,000
Price/Room
$140,110
Price/Gross SF
$289.77
Year Built
2018

Investment Overview

Marcus & Millichap has been chosen to exclusively market the sale of the Studio 6 Sparks Tahoe Reno Industrial Center, a three-story hotel located within the Tahoe Reno Industrial Center, the largest industrial center in the world. Recently built in 2018, the property consists of 91 interior corridor guest rooms, guest laundry facilities, an elevator, and eight vehicle parking slots of Tesla Destination Chargers. The hotel includes a triple room King Suite that was originally designed as a Manager's Unit, currently rented as a super suite. Utilizing this room as a Manager’s Unit would reduce the room count to 90. Attached to the hotel is Vino's Pizza, the first full-service bar, restaurant and gaming experience to be connected to a Studio 6 extended stay hotel. Vino's Pizza has recently commenced a 5-year lease, with (1) 5-year renewal available. The property is well-maintained and was intentionally built and appointed to a higher standard than the Studio 6 brand requires.

This Studio 6 benefits from its location within the Tahoe Reno Industrial Center, known as the logistics hub of the West, with more than 120 tenants. Comprising approximately 107,000 acres/160 square miles, the complex is home to major tenants including Tesla, Google, Switch, Blockchains and Walmart. The property is located within the Reno MSA, which benefits from lower business costs, strong employment growth, and many popular tourist attractions. Nearby attractions include the Reno Events Center, Greater Nevada Field (home to MiLB's Aces | 500k visitors/year), as well as several casinos, parks, and museums. Within 20 miles of the hotel are the Reno-Tahoe International Airport (RNO) (4.5M+ passengers in 2023), University of Nevada Reno (21k+ Enrollment), Northern Nevada Medical Center, Saint Mary's Regional Medical Center, the Renown Regional Medical Center and the Reno VA Medical Center.

The Studio 6 Sparks Tahoe Reno Industrial Center represents an opportunity to acquire a franchised hotel in a stable market supported by multiple strong demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Reno region.

Investment Highlights

  • Well-Maintained, Three-Story, Franchised Hotel Built in 2018
  • $2.3M+ Current Room Revenue | 9.5% Cap Rate
  • Leased Vino's Pizza Onsite | First of its Kind Connected to a Studio 6 Extended Stay Hotel
  • Eight Tesla Destination Chargers Onsite
  • Located Within the Tahoe Reno Industrial Center (TRIC), the Largest Industrial Center in the World
  • Most Notable of TRIC's 120+ Tenants Include Tesla, Google, Switch, Walmart, and Blockchains
  • Ideally Located Off Interstate 80 and State Highway 439, Less Than 20 Miles to Downtown Reno
  • Short Drive to Attractions Including Reno Events Center, Greater Nevada Field (Home to MiLB's Aces | 500k Visitors/Year), Several Casinos, Parks, and Museums

Exclusively Listed By

Broker of Record

  • Cameron Glinton

    Regional Manager

    (702) 215-7100

    License(s) NV: B.1002894.CORP

    Nevada

Financing By

Hotel-Motel

Studio 6 Sparks Tahoe Reno Industrial Center

Listing Price: $12,750,000

Cap Rate
9.50%
Number of Rooms
91
RevPAR
$73
Gross SF
44,000
Price/Room
$140,110
Price/Gross SF
$289.77
Year Built
2018

Investment Highlights

  • Well-Maintained, Three-Story, Franchised Hotel Built in 2018
  • $2.3M+ Current Room Revenue | 9.5% Cap Rate
  • Leased Vino's Pizza Onsite | First of its Kind Connected to a Studio 6 Extended Stay Hotel
  • Eight Tesla Destination Chargers Onsite
  • Located Within the Tahoe Reno Industrial Center (TRIC), the Largest Industrial Center in the World
  • Most Notable of TRIC's 120+ Tenants Include Tesla, Google, Switch, Walmart, and Blockchains
  • Ideally Located Off Interstate 80 and State Highway 439, Less Than 20 Miles to Downtown Reno
  • Short Drive to Attractions Including Reno Events Center, Greater Nevada Field (Home to MiLB's Aces | 500k Visitors/Year), Several Casinos, Parks, and Museums

Investment Overview

Marcus & Millichap has been chosen to exclusively market the sale of the Studio 6 Sparks Tahoe Reno Industrial Center, a three-story hotel located within the Tahoe Reno Industrial Center, the largest industrial center in the world. Recently built in 2018, the property consists of 91 interior corridor guest rooms, guest laundry facilities, an elevator, and eight vehicle parking slots of Tesla Destination Chargers. The hotel includes a triple room King Suite that was originally designed as a Manager's Unit, currently rented as a super suite. Utilizing this room as a Manager’s Unit would reduce the room count to 90. Attached to the hotel is Vino's Pizza, the first full-service bar, restaurant and gaming experience to be connected to a Studio 6 extended stay hotel. Vino's Pizza has recently commenced a 5-year lease, with (1) 5-year renewal available. The property is well-maintained and was intentionally built and appointed to a higher standard than the Studio 6 brand requires. This Studio 6 benefits from its location within the Tahoe Reno Industrial Center, known as the logistics hub of the West, with more than 120 tenants. Comprising approximately 107,000 acres/160 square miles, the complex is home to major tenants including Tesla, Google, Switch, Blockchains and Walmart. The property is located within the Reno MSA, which benefits from lower business costs, strong employment growth, and many popular tourist attractions. Nearby attractions include the Reno Events Center, Greater Nevada Field (home to MiLB's Aces | 500k visitors/year), as well as several casinos, parks, and museums. Within 20 miles of the hotel are the Reno-Tahoe International Airport (RNO) (4.5M+ passengers in 2023), University of Nevada Reno (21k+ Enrollment), Northern Nevada Medical Center, Saint Mary's Regional Medical Center, the Renown Regional Medical Center and the Reno VA Medical Center. The Studio 6 Sparks Tahoe Reno Industrial Center represents an opportunity to acquire a franchised hotel in a stable market supported by multiple strong demand drivers. Our Pro Forma analysis assumes continued modest growth supported by the increasing population and demand growth in the Reno region.

Exclusively Listed By

Broker of Record

  • Cameron Glinton

    Regional Manager

    (702) 215-7100

    License(s): NV: B.1002894.CORP

    Nevada

Financing By

MM Texture Background
MM Textured Background Lower